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Large and ongoing projects don’t stay on track on their own. A steering committee guides a body on a project from start to finish. The project may be an operational project or a committee that steers a board of directors. Steering committees are made up of various people, which can include some combination of board officers, senior stakeholders, experts, executives, department employees and client representatives. Members of steering committees meet and collaborate to define, prioritize and control projects. They also provide guidance to the project manager on various issues. The statistics on project completion aren’t strong. Less than 3% of companies successfully complete 100% of their projects. The average company exceeds its budget by 27%. About half of all projects budgeted for over $1 million fail. Steering committees keep projects on budget and on time and prevent associated risks.
What Do Steering Committees Do?
One example of a steering committee is an executive committee. An executive committee is usually composed of the board’s officers and sometimes the executive director. In this capacity, the executive committee acts as a steering committee because it steers the direction of the full board and prioritizes the board’s issues.
Another example of a steering committee is a group of people who collaborate on projects. In this situation, steering committees ensure that projects align with business objectives. They identify and monitor risks, ensure the quality of the project, and monitor progress and timelines. The committee is able to approve changes in the scope of the project, budget and strategy.
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